MoneyTap to help banks give away Rs 300 crore in small personal loans

When Suguresh Desai, an area manager in a TVS Group company, wanted to purchase a new car, he was short on cash to make the down-payment. Instead of renegotiating his loan with the bank, he simply made a Rs 1 lakh withdrawal through MoneyTap and paid.
 
Desai, who found MoneyTap through an advertisement on Facebook, said he was very impressed by the service — it cleared him a line of credit in two hours. “My experience has been excellent. If I had gone through any other service, it would have taken eight to 10 days for approval,” he says.